Real Estate News Today 11-28-2011

28 Nov

Today’s news that may be of interest to you:

PMI Files For Chapter 11, Unable To Write New Policies
The | November 23, 2011
Embattled mortgage insurer The PMI Group, Inc., caved in to state-imposed roadblocks by voluntarily filing for Chapter 11 bankruptcy Wednesday.

Stronger Lure for Home Buyers
The Wall Street Journal | November 26, 2011
Home prices and mortgage rates have fallen so far that the monthly cost of owning a home is more affordable than at any point in the past 15 years and is less expensive than renting in a growing number of cities.

Dealers See Fed Buying $545B Mortgage Bonds
Bloomberg | November 28, 2011
The biggest bond dealers in the U.S. say the Federal Reserve is poised to start a new round of stimulus, injecting more money into the economy by purchasing mortgage securities instead of Treasuries.

S&P: 45 Months to Clear Shadow Inventory
HousingWire | November 23, 2011
Changing default and liquidation rates in various regions prompted Standard & Poor’s Ratings Services to reduce its projection of how many months it will take to clear the nation’s shadow inventory.

Secret Fed Loans Gave Banks Undisclosed $13B
Bloomberg | November 27, 2011
The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing.

Banks Tap Government for Security Against Hackers
Wall Street Cheat Sheet | November 26, 2011
The National Security Agency has begun providing Wall Street banks with intelligence on foreign hackers, a sign of growing U.S. fears of financial sabotage.

Drop In Rates Pushes Borrowing Costs To Historic Low
The | November 23, 2011
Mortgage rates continue to drop and recent statistics show that the price of long-term lending is approaching historically low numbers. Results of this week’s survey from Freddie Mac show that an unexpected rise in home sales coupled with low rates have brought the cost of borrowing to its second-lowest level ever recorded.

From the National Association of Realtors®:

6 Cities Where Foreclosures Are Soaring
Some housing markets are still battling high numbers of foreclosures. You may be surprised at where foreclosures have increased by 30 percent or more recently.

Mortgage Scams Rise on Online Search Engines
Investigators have launched an investigation into three of the most popular search engines as they try to uncover con artists who are using the sites to dupe troubled home owners.

Anthony Carollo 2007 EMAIL  

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834

Please remember to choose Stewart Title of Spokane on your next transaction!




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